A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
INTERESTING STARTUPS
Sheromes (2017, Gurgaon), big data solutions provider to population health and healthcare systems. Founders are ex-Bain & Company, Helion Advisors and are alumni of IIIT-Hyderabad, London School of Business. Local comparable is Health Vectors (2011, Bangalore). Global comparables are Forward Health Group (2009, Madison, $10.5M) and Vitreos Health (2009, Plano, $5M)
INDIA INTERESTING NEWS
Altigreen Propulsion Labs (2012, Bangalore), provider of technology enabled solutions for electric and hybrid powertrains, raises an undisclosed amount in bridge round of funding from an institutional investor. Link
Myntra Jabong India (2007, Bangalore), Myntra’s B2B retail arm, raises $7.7M in loan amount from Kotak Mahindra Bank. Link
CL Educate (1996, Delhi), K-12 education, vocational training, and test preparation provider, to acquire ICE GATE Educational Institute (2014, Ahmedabad), coaching institute to prepare for competitive examinations, for an undisclosed amount. Link
Flipkart (2007, Bangalore), online horizontal marketplace, to relaunch its loyalty programme ‘Flipkart First’. Link
Vedanta’s founder Anil Agarwal plans to set up $1B venture capital fund to help young Indian entrepreneurs build their businesses. Link
GLOBAL ROUNDUP
Lightspeed POS (2005, Montreal), SaaS based retail management software and eCommerce platform, raises $166M in Series D round of funding led by Caisse de dépôt et placement du Québec, with participation from Investissement Québec, iNovia Capital and a credit line from Silicon Valley Bank. Link
Finova Financial (2015, SF), direct lender for car title loans, raises $102.5M in equity and credit round of funding led by CoVenture with participation from existing investors. Link
Forty Seven (2015, Palo Alto), developer of humanized monoclonal antibody to treat cancer, raises $75M Series B round of funding led by new investor Wellington Management Company LLP with participation from existing investors Clarus, Lightspeed Venture Partners, Sutter Hill Ventures, and GV . Link
Duo Security (2010, Ann Arbor), provider of two factor authentication based identity and access management solutions to businesses, raises $70M in Series D round of funding led by Meritech Capital and Lead Edge Capital, with participation from strategic investor Workday, new investors Geodesic Capital and Index Ventures, as well as existing investors Redpoint Ventures and True Ventures. Link
GuiaBolso (2012, Sao Paulo), online personal finance management application platform, raises $39M in funding led by Vostok Emerging Finance with participation from Ribbit Capital, IFC, and QED Investors, as well as Endeavor Catalyst and Omidyar Network. Link